The Indian film industry’s top stars and directors took the spotlight on Thursday as they gathered along with Prime Minister Narendra Modi and industrialists such as Mukesh Ambani to inaugurate the first-ever Waves Summit in Mumbai.
The four-day event, which is being organised by the Ministry of Information and Broadcasting (MIB), will span the media and entertainment sector, aiming to connect content creators from across the world across segments.
In his inaugural address, Modi told a packed audience at the Jio World Convention Centre in Banda-Kurla Complex, that India’s creative and cultural industries would play a defining role in powering the country’s future economic growth.
Reflecting on India’s growing cultural influence, Modi said that it was the right time to “create in India, create for the world” as global audiences sought newer ways of story-telling.
“The Orange Economy—rooted in content, creativity, and culture—will be a strong pillar of India’s GDP in the coming years,” Modi said. “From music and film to gaming and animation, India is already making a global mark, and the possibilities ahead are infinite.”
He noted that Indian films have reached audiences across the globe and pointed to how over-the-top (OTT) platforms in India had grown tenfold in recent years. “Screens are becoming micro, but messages are becoming macro,” he said.
Modi invited global investors and content creators to “make India their content playground”, citing the nation’s rich trove of stories, talent, and tradition. “The world is looking for new ways of storytelling. India has a treasure of timeless stories, global in nature,” he said.
India’s potential, Modi noted, lies not just in its infrastructure but in its people.
“To investors, I say: invest not just in platforms, but in people,” he said. And to the Indian youth, he said, “tell a billion untold stories to the world”.
“It is the responsibility of the new generation to ensure India’s stories reach every corner of the world.”
He also invited global creators to make India their content playground and invest in the nation’s storytelling potential, reassuring creators that the government stood firmly behind them.
The Prime Minister also drew attention to global market opportunities, citing the $430 billion global animation market, which is expected to double in the next decade.
He said that the live concert industry had “infinite possibilities” in India, and the country was fast becoming a global destination for music, festivals, and immersive experiences.
Ambani outlines four key messages
Delivering his key-note address on the first day of the Waves Summit 2025, Reliance Industries Chairman Mukesh Ambani emphasised the growing global stature of India’s media and entertainment industry.
Ambani said that the acronym Waves reflected the themes of culture, innovation, collaboration and creative economy. “Let the Waves rise,” he said, as he applauded the Modi government and I&B Minister Ashwini Vaishnaw, who also holds the portfolios of Railways and Electronics and IT, for organising the Waves Summit in a matter of months.
Framing entertainment as a “real power” rather than a “soft power”, Ambani pointed to India’s rich story-telling tradition. “No nation can match India’s storytelling power from the Ramayana to Mahabharata. These stories can help heal a divided world,” he added.
Ambani also spotlighted the fusion of storytelling and technology. With AI and immersive tools such as Augmented and Virtual Reality, the nation’s creative talent were now equipped to lead the global entertainment landscape.
Looking into the future, Ambani underscored the importance of the domestic media and entertainment sector. Currently valued at $28 billion, the domestic M&E sector could cross the $100-billion-mark in a decade, driving entreprenurship, job creation and innovation.